Companies /Financial Services

Robinhood Markets Inc - Class A

NASDAQ: HOOD Capital Markets
$122.11
▼ $2.61 (−2.09%) today
Markets closed · 11:43am ET

Q3 2025 Earnings

Reported Nov 5, 2025, 4:05pm ET · SEC source
$0.61
Beat +12.07%
EPS · est. $0.54
$1.3B
Beat +4.84%
Revenue · est. $1.2B
+4.9%
Beating market
HOOD vs S&P since report
1 quarter
Consecutive EPS beats

Market Reaction

% change · around the report
−4%0+4%Nov 5Nov 6report 4:05pm ETearnings−0.8%−5.1%
−4%0+4%Nov 5Nov 6earnings−0.8%−5.1%
HOOD −5.1%S&P 500 −0.8%
−4%0+4%Nov 5Nov 6report 4:05pm ETearnings−1.5%−5.1%
−4%0+4%Nov 5Nov 6earnings−1.5%−5.1%
HOOD −5.1%NASDAQ −1.5%
−15%−10%−5%0Nov 4Nov 13report 4:05pm ETearnings−0.8%−13.2%
−15%−10%−5%0Nov 4Nov 13earnings−0.8%−13.2%
HOOD −13.2%S&P 500 −0.8%
−15%−10%−5%0Nov 4Nov 13report 4:05pm ETearnings−2.4%−13.2%
−15%−10%−5%0Nov 4Nov 13earnings−2.4%−13.2%
HOOD −13.2%NASDAQ −2.4%
−10.81%
Day of report
+2.58%
Next session
−4.37%
One week
+6.79%
30 days

S&P 500 over the same 30 days: +1.90%.

Did HOOD Beat Earnings? Q3 2025 Results

Robinhood delivered a blowout third quarter, posting record revenue of $1.27 billion, a 100% year-over-year surge that topped the $1.22 billion consensus estimate by 4.84%, while earnings per share of $0.61 beat the $0.54 consensus by 12.07% and represented a 259% increase from a year ago. The standout driver was a near-complete transformation in the company's revenue mix, with transaction-based revenues more than doubling to $730 million, led by cryptocurrency revenue that soared over 300% year-over-year to $268 million, alongside options revenue of $304 million and net interest revenues climbing 66% to $456 million. Net income jumped 271% to $556 million, and adjusted EBITDA expanded to $742 million with margins reaching 58%. Robinhood Gold subscribers surged 77% to 3.9 million, total platform assets more than doubled to $333 billion, and the company now counts 11 business lines each generating roughly $100 million or more in annualized revenues. Looking ahead, management raised its full-year 2025 adjusted operating expense outlook to approximately $2.28 billion, citing strong performance, increased growth investments, and an October already showing record trading volumes across multiple asset classes.

Key Takeaways
  • Cryptocurrency revenue up over 300% YoY driving transaction-based revenue growth
  • Options revenue up 50% YoY to $304 million
  • Equities revenue up 132% YoY
  • Net interest revenue growth from expanding interest-earning assets and securities lending
  • Robinhood Gold Subscribers surged 77% YoY to 3.9 million
  • Net Deposits record of $20.4 billion in Q3
  • Total Platform Assets up 119% YoY to $333 billion
  • ARPU increased 82% YoY to $191
  • Event Contracts Traded more than doubled sequentially to 2.3 billion

“Our team's relentless product velocity drove record business results in Q3 and we're not slowing down— Prediction Markets are growing rapidly, Robinhood Banking is starting to roll out, and Robinhood Ventures is coming.”

Robinhood CEO, on the earnings call

Forward Guidance & Outlook

Robinhood raised its 2025 full-year Adjusted Operating Expenses and SBC outlook to approximately $2.28 billion, up from the prior range of $2.15-$2.25 billion. The increase reflects higher employee bonus accruals due to exceeding performance targets, payroll taxes from the vesting of 2019 CEO Market-Based RSUs, and increased investments in growth areas like Prediction Markets and Robinhood Ventures. This outlook excludes provision for credit losses, costs related to the pending WonderFi acquisition, potential significant regulatory matters, and other significant expenses. Q4 is off to a strong start with record October trading volumes across equities, options, prediction markets, and futures, and new highs for margin balances.

HOOD YoY Financials

Revenue$1.3B
Net Income$556.0M
Operating Income$635.0M

HOOD Revenue by Segment

Transaction-Based Revenues$730.0M+129.0%
Net Interest Revenues$456.0M+66.0%
Options Trading$304.0M+50.0%
Cryptocurrency Trading$268.0M+300.0%
Other Transaction Revenue (incl. Prediction Markets)
Other Revenues$88.0M+100.0%
Equities Trading$86.0M+132.0%
Robinhood Gold Subscriptions

Figures from SEC filings and company reports. Not investment advice.